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Iskandar Investment returns to Cityscape Abu Dhabi to showcase significant developments in Medini and EduCity

United Arab Emirates: Monday, April 19 - 2010 @ 13:19

Iskandar Investment’s Middle East partners, Mubadala, Millennium, Kuwait Finance House and Aldar, have invested $1.2bn to jointly develop Medini, the flagship development of Malaysia’s first economic corridor. Medini North, a 145-acre lifestyle development is on schedule to be launched in 2012 with the grand opening of LEGOLAND Malaysia, the first in Asia.

The area will be further enhanced with the development of a lifestyle retail mall, a themed hotel, a business hotel as well as office and residential properties. “The Middle East is a valued market for Iskandar Investment due to our shared cultural and business values,” said Arlida Ariff, President and CEO of Iskandar Investment. “Strong relationships with our existing partners have ensured the ongoing progress of our projects and we continue to seek long-term investors and partners to have a stake in Iskandar Malaysia, one of the fastest-growing development regions in Asia today.”

Iskandar Investment began 2010 by announcing a feasibility study with Raffles Education Corporation Limited (‘RafflesEducationCorp’) to develop Raffles University Iskandar, a multiinstitutional education campus in EduCity, Iskandar Malaysia. RafflesEducationCorp is the largest private education provider in Asia Pacific.

Other recent key milestones include:

- Construction of a 21.5-acre Stadium and Sports Complex which began in February will provide first-class sporting facilities for students and the community in Iskandar Malaysia.

- Construction will be completed in September 2011 in time for the opening of the Newcastle University Medical Malaysia (NUMed) campus.

- Agreement to establish Marlborough College Malaysia, the first international venture for the leading British independent, coeducational boarding school catering to the schooling needs of local and international students between the ages of five and 18. The campus is scheduled to open in September 2012

- Collaboration with WCT, a leading Malaysian construction and property development company, to jointly develop and co-own 1Medini, the first residential development in Medini. The condominium will be launched in mid-2010 with its first phase of 300 units ready by 2013

- The $100m Newcastle University Medicine Malaysia (NUMed) campus in EduCity is on schedule to open in May 2011.

“I am heartened by the progress on the ground of developments which will meet the growing demand for entertainment, lifestyle and leisure amenities in Malaysia and the region” said Ms. Arlida. “Iskandar Investment will continue to deliver value to our shareholders as we create an iconic international tourist destination and vibrant living environment in Medini, Iskandar Malaysia.”

Key investment areas that Iskandar Investment offers are in financial services, education, leisure and tourism, health and wellness, trade and logistics, and creative industries.

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Monday, April 19- 2010 @ 13:19 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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